Grid Metals Concludes Second Tranche of Private Placement

Grid Metals Corp., listed on TSXV as GRDM, finalized the second tranche of its non-brokered private placement, amassing C$2,347,158 in gross proceeds. The tranche involved issuing 7,060,903 common shares to a strategic investor and an existing shareholder at C$0.12 per share, alongside 7,575,000 charity flow-through shares to charitable buyers at C$0.198 each. The total proceeds from this and the earlier tranche reach C$4,027,158.

The funds are earmarked for exploration at the Falcon West cesium project and the Bird River Belt in Manitoba, focusing on nickel, copper, and PGM targets. No warrants or finder's fees were linked to this offering. An insider acquired 5,565,233 common shares, marking a "related party transaction" under MI 61-101, using exemptions due to the transaction's value relative to market capitalization.

The share issuance awaits final approval from TSX Venture Exchange and will have a hold period of four months and a day. The offering is not registered under the U.S. Securities Act, barring sales in the U.S. without proper registration or exemption.